Robert McKinley, with 34 years experience covering payment cards and payment systems, is Senior Analyst and Editor-in-Chief for CardFlash and other payments-related publications. He is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. McKinley served as an expert witness in 100+ litigations including two multi-$billion trials, testified before the U.S. Congress, chaired multiple payments conferences, hired as consultant by Fortune 100 companies and several overseas financial institutions. Full Bio: www.rbm4.com

First-Quarter Global PDV

First-Quarter Global Purchases Up 9% FX & 12% CAGR

First-quarter global purchases for the Major 4 U.S.-based payment networks payments cards (credit + charge + debit + prepaid) increased 9.4% year-on-year (YOY) on a currency adjusted basis (FX). On a nominal dollars basis (NFX) for the first-quarter (1Q/19), global payment card purchase dollar volume (PDV), rose 4.4% YOY. The Major 4 U.S.-based global networks:…

First-Quarter Global CIF

First-Quarter Global Cards +7% YOY +9% CAGR Major 4 Networks

First-quarter global cards among the Major 4 U.S. payment networks expanded by 369 million credit and debit cards-in-force (CIF) over the past twelve months. The Major 4 (Visa [V], Mastercard [MA], American Express [AXP], Discover/Diners [DFS]), global payment cards grew 7.0% year-on-year (YOY) in the first-quarter (1Q/19). First-Quarter Global CIF Growth The compound annual growth…

First-Quarter Payment Network Profits

First-Quarter Payment Network Profits Top $7B w/11% CAGR

First-quarter payment network profits among the global U.S.-based Major 4: Visa [V], Mastercard [MA], American Express [AXP] and Discover [DFS], rose 11.2% year-on-year (YOY), and now growing at an 11.03% CAGR, based on the past five years. The Major 4 reported a combined first-quarter (1Q/19) (after tax) profit of $7115 million, compared to $6573 million…

First-Quarter 90+ Card Delinquency

First-Quarter 90+ Card Delinquency Hits 1.29% – 5 Yr High

First-quarter 90+ card delinquency remains at 1.29%, a five-year high among the Top 4 U.S. credit card issuers. The average late stage card delinquency ratio was flat sequentially, and up seven basis points (bps) year-on-year (YOY) for the first-quarter (1Q/19). Meanwhile, early stage credit card delinquency (30+ days) for 1Q/19, among the nation’s Top 4…

First-Quarter Cross-Border Transactions

First-Quarter Cross-Border Transaction Volume Strong for Mastercard

First-quarter cross-border transactions, on a currency adjusted basis (FX), rose with Mastercard outpacing Visa by 900 basis points (bps) year-on-year (YOY). Sequentially, quarter-to-quarter, Mastercard declined 400 bps, compared to Visa’s 300 bps decline, according to figures gathered by CardData. Cross-border transaction (X-Border) volume refers to payments and cash volume where the issuing country is different…

Big 6 Credit Card Charge-Offs

First-Quarter Charge-Offs Rise Sharply – Issuers Beef-Up Reserves

First-quarter charge-offs among the Big 6 domestic credit card issuers rose sharply as loan loss reserves are beefed-up across-the-board. Credit card charge-offs among the nation’s Big 6 credit card issuers rose 14 basis points (bps) year-on-year (YOY) for the first-quarter (1Q/19), and up 34 bps sequentially.  The Big 6 (Chase [JPM], Capital One [COF], Bank…

First-Quarter Card Loans

First-Quarter Card Loans YOY Growth Lowest in 5 Years & 5.51% CAGR

First-quarter card loans, among the Top 4 U.S. issuers, grew 3.4% year-on-year (YOY), compared to 1.5% in the prior quarter. Among the nation’s Top 4 credit card issuers (Chase [JPM], Capital One [COF], Bank of America [BAC], and Citibank [C]), the annual growth rate for U.S. end-of-period (EOP) credit card outstandings in the first-quarter (1Q/19)…

First-Quarter Global GDV

First-Quarter Global Card Volume Up 8% FX & CAGR 10.37%

First-quarter global card volume for the major U.S. based networks is slowing down year-on-year (YOY) by 220 basis points (bps), compared to the prior quarter. Global Payment Card GDV (Gross Dollar Volume) for Visa [V], Mastercard [MA], American Express [AXP] and Discover [DFS] payment cards (credit + debit) increased 8.2% globally YOY on a currency…

First-Quarter Visa Mastercard US CIF

First-Quarter U.S. Visa Mastercard Credit + Debit CIF +5% CAGR

First-quarter U.S. Visa Mastercard credit and debit cards-in-force (CIF) increased 6.7% year-on-year (YOY), compared to a 6.1% YOY gain in payment cards for the prior quarter (4Q/18). Visa and Mastercard U.S. credit cards increased 5.5% YOY while CIF for debit cards rose 7.7% YOY, in 1Q/19. There are were 1377 million Visa and Mastercard payment…

First-Quarter Card Delinquency

First-Quarter Card Delinquency Among Top 4 Issuers on Upward Trajectory

First-Quarter card delinquency among the nation’s top issuers dipped slightly from the prior quarter, due to the seasonality and increased repayments of post-holiday portfolio outstandings. However, over the past five years, the first-quarter delinquency ratio has been on an upward trend, rising 40 basis points (40 bps) from the first-quarter of 2015. Second-Quarter Card Delinquency…

First-Quarter US Credit Card Volume

First-Quarter US Credit Card Volume Slows 280 bps YOY & 8.8% CAGR

First-quarter U.S. credit card volume, among Visa [V], Mastercard [MA], American Express [AXP], and Discover [DFS], dipped a bit to a 7.0% year-on-year (YOY) gain. The Major 4 payment networks posted a 9.8% YOY increase in the first-quarter 2018 (1Q/18), a 9.4% YOY gain in 1Q/17 and an 8.6% jump in 1Q/16. According to figures…